Sales & Marketing news

• Dow surges 1,100 points as coronavirus stimulus bill offsets dismal jobless-claims report

  26-03-2020 17:04 via feedproxy.google.com
  US stocks gained Thursday as investors shrugged off a huge number of weekly jobless claims spurred by layoffs related to the coronavirus outbreak.
  Investor optimism continued to build around the $2 trillion coronavirus stimulus package the Senate passed late Wednesday.
  The bill includes unemployment-benefit expansions, help for businesses, and payments for Americans to help bolster the US economy amid the fallout from the pandemic.
  Read more on Business Insider.
  US stocks rose on Thursday, conti
  
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• Billionaire investor Bill Ackman turned $27 million into $2.6 billion by betting that the coronavirus would tank the market

  26-03-2020 16:47 via feedproxy.google.com
  The hedge-fund billionaire Bill Ackman turned a $27 million position into a $2.6 billion windfall as the coronavirus outbreak dragged stocks to multiyear lows and threatened deep economic recession.
  Pershing Square Capital Management turned to credit protection on investment-grade and high-yield bond indexes to bet on an increased risk of corporate default.
  The multibillion-dollar profit offset losses elsewhere in Ackman's portfolio and drove a 7.9% gain in March through Tuesday's close for Pers
  
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• Hotels and airlines are just the beginning — here's how the coronavirus recession could cause job losses across the US economy

  26-03-2020 16:39 via feedproxy.google.com
  
  The economic fallout from the coronavirus pandemic threatens to wipe out many different kinds of jobs in the US, not just in hospitality and travel but also in spaces including sports and entertainment as well as manufacturing.
  Nearly 3.3 million Americans filed for unemployment benefits during the week ending in March 21.
  Several industries are pleading with the federal government for a bailout.
  Visit Business Insider's homepage for more stories.A recession from the novel coronavirus outbreak i
  
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• A record-shattering number of Americans filed for unemployment last week — here's what the situation looks like in each state

  26-03-2020 16:27 via feedproxy.google.com
  
  A record 3.28 million Americans filed for unemployment benefits in the week ending March 21 as coronavirus-induced layoffs surge around the country. 
  Some states have been hit harder than others, potentially due to individual orders to curb the spread of COVID-19. 
  "Nearly every state providing comments cited the COVID-19 virus impacts," the Labor Department wrote in the report released Thursday.
  Here's the situation in every state.
  Visit Business Insider's homepage for more stories.So
  
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• A record 3.3 million Americans filed for unemployment benefits in a single week. Here's why that number is likely much higher.

  26-03-2020 15:52 via feedproxy.google.com
  
  Around 3.3 million Americans filed for unemployment benefits in a single week, setting a new record as coronavirus triggers massive layoffs across the economy.
  But it's likely the number of unemployed is much higher given current rules that often leave out gig workers and contractors.
  Safety nets for tipped workers also vary from state to state.
  The coronavirus economic aid bill that just passed the Senate widens unemployment eligibility substantially.
  Visit Business Insider's homepage for more
  
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• JPMorgan slashes its GDP forecast for next quarter — now sees a 25% contraction and imminent recession despite 'Herculean' stimulus measures

  26-03-2020 15:31 via feedproxy.google.com
  
  JPMorgan lowered its first-half US GDP forecast Wednesday after projecting a deep recession just one week earlier.
  First-quarter growth will slip to -10% from its previous -4% estimate, the team led by chief economist Michael Feroli wrote. Second-quarter expansion will plunge to -25% from -14%.
  The bank kept its second-half estimate the same at 6%, noting severe financial headwinds and tight capital conditions offset hopes for a stronger rebound.
  While the Senate's "Herculean stimulus effort" wi
  
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• 'A generation-defining moment': Krugman, Roubini, El-Erian warn that the record 3.3 million unemployment claims are 'just the start'

  26-03-2020 15:19 via feedproxy.google.com
  
  Claims for unemployment benefits soared to 3.28 million last week, more than four times the previous record of 700,000 set in 1982, Department of Labor data revealed on Thursday.
  Economists Mohamed El-Erian, Nouriel Roubini, and Paul Krugman underscored the shocking increase and warned of further economic damage.
  "Unfortunately it's just the start, highlighting that we're living through a generation-defining moment," El-Erian tweeted.
  "Bear in mind that at the absolute worst of the Great Recessi
  
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• 'The crown jewel of data': Stocks slump as surging unemployment overpowers relief at Senate passing $2 trillion stimulus bill

  26-03-2020 13:48 via feedproxy.google.com
  Stocks slid on Thursday as worries about surging unemployment offset relief at the US Senate's approval of a $2 trillion anti-coronavirus stimulus package.
  Initial jobless claims ballooned to 3.28 million last week, smashing the previous record of about 700,000, set in 1982.
  The figure represents "the first real measure of just how far and how fast the world's largest economy has contracted because of the coronavirus," one analyst said.
  The Senate passed a bill that would provide loans to airlin
  
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• Fed Chairman Jerome Powell says the US may 'well be in a recession' due to the coronavirus pandemic

  26-03-2020 13:36 via feedproxy.google.com
  Federal Reserve Chairman Jerome Powell gave a rare exclusive interview with the "TODAY" show Thursday.
  He discussed the unprecedented impact of the coronavirus pandemic on the US economy. 
  "We may well be in a recession," Powell said. "But I would point to the difference between this and a normal recession," he added. 
  Read more on Business Insider. 
  In a rare live interview Thursday, Federal Reserve Chairman Jerome Powell said that the coronavirus pandemic may have already t
  
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• US weekly jobless claims spike to a record 3.3 million as the coronavirus outbreak triggers widespread unemployment

  26-03-2020 13:33 via feedproxy.google.com
  
  A record number of people in the US filed claims for unemployment insurance last week amid the coronavirus pandemic.
  US weekly jobless claims for the week ending March 21 were 3,283,000, the Labor Department reported Thursday.
  Economists will be watching the reports to see how bad the situation in the US really is as the coronavirus outbreak triggers a widespread economic shutdown.
  Visit Business Insider's homepage for more stories.The number of people who filed claims for unemployment insurance
  
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• Ford says it will restart some US and Mexico factories in first half of April (F)

  26-03-2020 13:22 via feedproxy.google.com
  
  Ford said it would restart limited factory production in Mexico on April 6, and follow in the US on April 14.
  The US plants build pickup trucks and commercial vans.
  "We will continue to assess public health conditions as well as supplier readiness and will adjust plans if necessary," Ford said in a statement.
  The UAW said, "We are reviewing with great concern and caution today's announcement."
  Ford shut down all North American production last week as the coronavirus pandemic intensified.
  Visit B
  
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• Senate passes $2 trillion coronavirus relief bill, which includes checks for Americans and small-business loans

  26-03-2020 04:49 via feedproxy.google.com
  
  The Senate passed the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, on Wednesday, sending it to the House of Representatives and setting up President Donald Trump to usher in roughly $2 trillion in economic stimulus with the coronavirus threatening near-term recession.
  The stimulus measure passed 96 to zero at about 11:50 p.m. ET and includes payments for millions of Americans, unemployment benefit expansions, and loans for struggling businesses.
  The passage follows back-to-b
  
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• READ: Here's how the government wants to spend $2 trillion to protect the economy from coronavirus' effects

  26-03-2020 04:08 via feedproxy.google.com
  
  The Senate's $2 trillion spending package would employ historic amounts of government cash to combat the coronavirus and its economic fallout.
  Legislators unveiled the fiscal-stimulus plan Wednesday evening after days of blockages and hurried negotiations.
  The bill finally passed the Senate on Wednesday evening by a vote of 96 to zero. It now heads to the House of Representatives before making it to President Donald Trump's desk. 
  Here's where the Coronavirus Aid, Relief, and Economic Secur
  
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• Williams-Sonoma’s in-house ad strengths key to COVID-19 response

  26-03-2020 01:00
  
  Williams-Sonoma, a retailer that plays in categories likes home furnishings and kitchenware, believes that prior efforts to strengthen its in-house advertising capabilities are helping it to react at speed to COVID-19.
  
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• Olympic Games postponed: what happens now?

  26-03-2020 01:00
  
  Broadcasters and sponsors have publicly backed the decision to postpone the Olympic Games to next year because of the COVID-19 outbreak – they could hardly do otherwise in the circumstances – but behind the scenes all parties will be in deep...
  
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• Media consumption transformed in North Asia in the time of coronavirus

  26-03-2020 01:00
  
  The impact of COVID-19 is transforming millions of lives, and also causing a profound and possibly lasting change in the behaviour of business and consumers, a new study predicts.
  
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• Brands favour organic Facebook content amid COVID-19 uncertainties

  26-03-2020 01:00
  
  The demand for paid ads on Facebook is decreasing as brands respond to the uncertain economic situation, according to new data from Socialbakers.
  
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• B2B marketers best equipped for remote working, study finds

  26-03-2020 01:00
  
  Being forced to work from home is less likely to concern B2B marketers than those in B2C businesses, a new study shows.
  
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• Sen. Lindsey Graham threatens to derail coronavirus economic aid bill over boosted unemployment benefits, calling it 'Bernie Sanders on steroids'

  26-03-2020 00:38 via feedproxy.google.com
  
  Graham said the $2 trillion stimulus bill was "Bernie Sanders on steroids" in a radio interview with Sean Hannity.
  He was among four GOP senators that blasted the bill for significantly boosting unemployment benefits, terming it a "massive drafting error."
  They said they would oppose quickly approving the bill unless their concerns were addressed.
  Visit Business Insider's homepage for more stories. Republican Sen. Lindsey Graham assailed the massive $2 trillion economic stimulus bill in a r
  
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• Obama's former economic advisor says Trump is ignoring the most important rule of virus economics — and warns the usual recession playbook is futile against COVID-19

  26-03-2020 00:33 via feedproxy.google.com
  
  Austan Goolsbee, the former economic advisor to President Obama, says "the number one rule of virus economics is that you have to stop the virus before you can do anything about economics."
  Goolsbee says after controlling the virus you need to provide relief so that nobody starves or has to liquidate everything due to a temporary slowdown. He insists that regular stimulus will only be effective after taking these steps.
  The economic impact will be worse in the US than in China because America's
  
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